Deal that values Globaldata arm at over £1bn nears completion

A deal which valued the division of international data and analytics firm Globaldata at more than £1bn is to be completed later this month, it has been confirmed.

In December 2023, private equity firm Inflexion said it had agreed to acquire a 40 per cent stake in the healthcare arm for £434m, a valuation of £1.15bn, almost equivalent to Globaldata’s entire market capitalisation at the time.

In a statement issued to the London Stock Exchange, it has been confirmed that the deal will now be completed on June 28.

Mike Danson, CEO of GlobalData, said: “This investment in our Healthcare division represents a compelling crystallisation of the significant value that has been created for our shareholders through the delivery of our growth strategy.

“We are delighted to be partnering with Inflexion to take our Healthcare division into its next phase of growth.

“Our business will continue to evolve rapidly through our 2024-2026 Growth Transformation Plan, as we invest in products and AI and leverage the proceeds from this transaction to accelerate growth investment and targeted M&A across the group.”

The update comes after GlobalData reported an uptick in annual profits as it benefitted from the global rush to big data analytics.

The firm posted a pre-tax profit of £41.5m in 2023, an eight per cent increase from £38.4m the year before.

Meanwhile, revenue came in at £273.1m last year, up 12 per cent from £243.2m in 2022.

The firm launched a new growth optimisation plan for 2024 to 2026 following the Inflexion announcement that has seen its corporate structure reorganised into three divisions – healthcare, consumer and technology.

Globaldata is targeting £500m of revenue by the end of 2026, which it said it would achieve through “a combination of organic growth and M&A”.